Question 1

Which of the following best describes the concept of appreciation?

Options :

A : When a property's value increases as a result of capital improvements.

B : When losses are deducted from a property's value for tax purposes.

C : When the value of a property decreases over time.

D : When the value of a property increases over time.

Answer: D

Question 2

Which photograph of a home for sale should not be published for public viewing?

Options :

A : An exterior photo showcasing the pool and outdoor kitchen/bar area

B : A photo of the billiards room that reveals the owner's collection of antique guns

C : A photo of the master bathroom that also shows the photographer's arm reflected in the mirror

D : A wide-angle photo of the renovated kitchen that makes the area look larger than it really is

Answer: B

Question 3

Assume you are a licensee in Maryland who has recently entered into an agreement with a seller to represent their interests in a real estate transaction. At what point are you required to provide a potential buyer with the agency disclosure notice?

Options :

A : After the buyer deposits the earnest money in escrow

B : After the seller accepts the buyer's offer

C : At your first scheduled face-to-face meeting with the buyer about the seller's property

D : When the buyer asks you to represent them as well

Answer: C

Question 4

What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

Options :

A : The agent can accept the bonus without any disclosure requirements.

B : The agent must disclose the bonus to any buyers they are working with on the transaction.

C : The agent should keep the bonus confidential and not inform the broker.

D : The agent should pay the bonus to the broker.

Answer: B

Question 5

What type of license will you receive if you have a supervising broker at the time of application?

Options :

A : Active license

B : Brokers license

C : Firm license

D : Inactive license

Answer: A